PBF Logistics LP 4
4 · PBF Logistics LP · Filed May 26, 2015
Insider Transaction Report
Form 4
PBF Logistics LPPBFX
O Malley Todd
President
Transactions
- Exercise/Conversion
Phantom Unit
2015-05-23−3,750→ 11,250 totalFrom: 2015-05-23Exp: 2015-05-23→ Common Unit representing LP interest (3,750 underlying) - Exercise/Conversion
Common Units representing limited partner interests
2015-05-23+3,750→ 8,050 total
Footnotes (2)
- [F1]Each phantom unit with distribution equivalent rights ("DER"), represents a contingent right to receive one common unit representing a limited partner interest in the Issuer or, at the election of the Board of Directors of PBF Logistics GP LLC, cash or a combination of the two. DERs shall be settled in cash.
- [F2]The remaining phantom units will vest in three equal annual installments beginning on May 23, 2016.